Exports forecast to bring in US $48 billion in 2007
07:00 | 26/10/2007
VNGOP – Việt Nam’s export turnover is forecast to reach US $48 billion in 2007, a 20.5 percent increase over last year, said Minister of Industry and Trade Vũ Huy Hoàng. “The rapid export growth represents the success of the integration policy and efforts of all levels, agencies and localities,” Minister Hoàng said on the sidelines of the 12th National Assembly’s second session.

However, the minister is also concerned that the trade deficit that hit US $7.5 billion in the first nine months is over the 20 percent threshold for the export turnover (US $35 billion).

The country needs to increase locally made products and materials, develop auxiliary industries and expand export markets, the minister said.

In the remaining months of the year, he stressed, Vietnamese enterprises should focus on exporting key staples such as garments, footwear, woodwork, electronics, seafood, agricultural and hi-tech products.

According to ministry figures, the country earned US $4.2 billion from exports in October, raising the total export turnover in the first ten months to over US $39 billion.

Crude oil earned an export turnover of US $6.5 billion, followed by garments, US $6.4 billion; footwear, US $3.2 billion; seafood, US $3 billion; woodwork, US $1.9 billion; electronics, US $1.7 billion; coffee, US $1.55 billion; rice, US $1.36 billion and rubber, US $1.1 billion.

(Source: VNA)

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